The World’s largest cryptocurrency Bitcoin is currently trading at over $10300 against USD but do you know how many times vitality caused Bitcoin to hit $10K mark this summer already? Almost twenty times.
The latest findings reveal that Bitcoin crossed $10K trading value nearly 20 times this summer. BTC began surging from May, it was trading between $6000 – $8000 during May and reached to a new range of $9000 – $12000 in the month of June. It later settled at $13000 on July 10 as the coin witnesses its highest value of 2019 until today. However, the crypto king fell back to $12k, $11k, $10k and even tasted the mark of $9k recently.
As the volatility exists, it is reported that this is almost the 20th time when most significant cryptocurrency Bitcoin crosses $10000. Indeed, this represents the volatility feature that BTC price possess.
At the time of writing, Bitcoin is up by 5.92 percent over the past 24 hours as the coin currently trades at $10,397 against. Notably, the market cap is flourishing with $186,243,830,226 as Bitcoin dominance hits 70 percent.
Bitcoin Dominance Hits 70%
Bitcoin Dominance is currently marked 70.2 percent, holding the highest share of the overall cryptocurrency market. As things stand, it looks like altcoins might suffer as the figure of dominance is too high, and the fact is, it hasn’t been that high since March 2017.
Echoing a similar concern, analysts and bitcoin proponents earlier expressed their views about the future of altcoins. Morgan Creek’s co-founder Anthony Pompliano (aka Pomp) previously claimed in his tweet that “eventually all altcoins will vanish.” He said;
Almost every single one of the theme (altcoins) will eventually be worthless because there will be no liquidity and they will get delisted from exchanges.
Meantime, Peter Brandt strongly believed there is only one cryptocurrency that will exist which possesses real and lasting value, and that is “Bitcoin.” In a wake of highest Bitcoin dominance, he cautioned his audience, stating;
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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